Heard Capital LLC Decreases Position in Equinix, Inc. (NASDAQ:EQIX)

Heard Capital LLC lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,815 shares of the financial services provider’s stock after selling 60 shares during the quarter. Equinix makes up about 0.2% of Heard Capital LLC’s investment portfolio, making the stock its 16th largest position. Heard Capital LLC’s holdings in Equinix were worth $3,386,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of EQIX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter valued at $30,000. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Equinix in the second quarter valued at approximately $36,000. Finally, Sugarloaf Wealth Management LLC grew its position in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQIX. BMO Capital Markets raised their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Scotiabank increased their price target on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Finally, Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus target price of $962.56.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 99.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock valued at $11,666,756 over the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Stock Performance

NASDAQ EQIX opened at $964.84 on Tuesday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a market cap of $93.10 billion, a PE ratio of 87.00, a P/E/G ratio of 2.53 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $902.59 and a 200-day simple moving average of $833.34.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.